Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-02-12

your bond in proportion TO our losses
and we will pay the residue IL any,"
This would have been simply an
equitable demand for equitable con-
tribntion for Losses in q common canse
engaged in by bondho'der aad people.
Az EQUITABLE VIEW.
The bondholder points to tho Federal
and State Constitutions in regard TO
the obligation OF contracts; the people
can point 10 the same Constitution
guaranteeing to them their legal and
equitable rights to oil the property
which was destroyed. The night OF
the owner Of the grist-mill which was
burnt in the prosecution OF the war
was Just as clear and indispntable as
the right of the holder OF a Virginia
bond was 20 his bond. Further, Dy AN
amendment of the Constitution OF tho
United States. it is provided that
no compensation shall be made Tor
any slaves emancipeted or for anT la-
bility incurred in support OF the rebel
lion. The Congrt ~ of the United
states has also decided that no citizen,
LOYAL or disloyal, has any clam on inc
United States for property destroyed IA
the prosecution of the war. Virginia
should never have agreed to pay one
cent on the debt until the bondholder
had agreed to q fair and equitable con
tribution to be deducted from this bond,
in proportion to the losses of taxable
property sustained by the people.
There is no reputation about this; 1t
simply proposes equitable contribution
WEST vIRGINIA's SHARE.
As to the share West Virginia is to
pay. without going into detail it may be
said that there is prevalent opinion
among the best informed men in the
State that in equity West Virginia owes
but little, if anything, on the old state
debt; that al the money for which the
bonds were given was expended in
what is now the bounds OF Virginia.
Eut West Nirginia has not ability to
pay on the State debt. Her taxes are
about the same on the dollar as in
Virginia, and the people feel this a
burden.
They are not i'll condition to pay
heavy tax. All the land in the State at
the time of the division was taxed at
less than 800, 100000, and now after
n quarter of century, with three or
four valuations, it has not increased %
per cent. More than one half of the
land in the State is valued at about
$1.C0 per acre; one sixth of the State
PAYS four seventies of the taxes. She
has one city of 10000 people. Her
capital has little over !, 000-two other
towns of over 5000 each, and the resi-
due villages from 100 to 1000 or 5000
apiece. There may. be one blast-fur-
mace outside of Wheeling in operation,
all the others are in or near Wheeling,
and there they get their crude ore.
coke, and limestone from other States.
There are some coal-mines in the State,
but most of them are owned by absen-
tees. and whatever is made at the mines
is taken out Of the State to be taxed.
There are large forests of timber in the
State. CT these, those which are con-
venient to railroads or nayigable streams
are being cut and carried ont of the
State to re manufactured but this does
not increase the taxable value of the
land. a large amount OF the CONNER
cial and manufacturing wealth OF the
State is in the city of Wheeling. a
heavy increase of taxes would tend to
drive the plants across the Ohio river.
WE OWE NOTHING.
A gentleman of high intelligence,
and who has had opportunity of know
ing and embraced his opportunity,
stated in the presence of the writer a
short time since that upon an equitable
settlement between the two States,
taking into account receipts and dis
bursements. West Virginia would not
owe one cent, and he thought the bal
ance would be against the old State.
] his is a general impression among the
people.
Would West Virginia submit the
matter TO arbitration? Certainly not.
No prudent man would submit matter
of demand to arbitration when he was
satisfied that he did not owe anything
and run the risk Of being adiudGed to
pay large sum by the conservatism, if
nothing worse, of the arbitrators. This
is about the sentiment of West Vir-
ainin on the subject in this aspect Of
the case.
= = 4
"The Wall-street syndicate have, it
IS said, nearly $l5, 900, 600 West Vir-
ginia bonds, or certificates as they are
called, for which they paid five or six
cents on the dollar. 1t is said they
have some whippersnappers running
through the State, trying to corrupt
legislators TO give them encouragement
10 boom their certificates. ~
If any portion of these certificates Is
ever paid, the United States must pay
it or West Virginia will have to alter
her motto, Liberty always resides in
the mountains" +. II. PEIRroIST.
FciImoh, u. I0., Feb. 9, 1887.
An Abuse.
10 the EHitor Of TIC DiSp0tch:
/ send you the following slip cut
from the ReHgi0,ts Hcraid Of the 9th
Dl,oco o,,,rn tba